Today’s Killer Startup: CommonBond
Elevator Pitch:
CommonBond helps people burdened with massive student debt refinance their loans.
Why It’s A Killer Startup:
Let’s talk about college debt, shall we? It’s one of those issues that I’m actually straight up bitter about, on behalf of my whole generation. Somehow society evolved to the point where you have to have a degree in order to get a decent, livable-wage job, but then you have to spend a massive portion of that wage on paying back your debt for the next thirty years. Oh, and to top it all off, we get made fun of for moving back home after graduation. Infuriating. It makes me want to give the middle finger to ALL of the baby boomers.
Anyway, that’s my college debt rant. CommonBond is a new company that agrees with my hatred for massive college debt and is out to do something about it. Their solution is to help people who have amassed debt to refinance their loans so that they pay significantly less in interest over the life of their loans. Not only do the promise lower rates, but they also don’t have any hidden fees, no repayment penalties. They do have borrower protections (including pausing your loans if you lose your job and helping you find a new one), and SSL encryption.
Did you get all that? Good.
CommonBond was founded by three Wharton MBAs, who undoubtedly have some personal experience with just how difficult managing and living with college debt can be. They’re committed to providing a first-rate customer service experience and, oh yeah — changing the world. In addition to helping people reduce their loans, they’ve committed to funding a full year of education for a student in need abroad for every degree that’s fully funded on their platform, which quite possibly makes CommonBond the most conscientious moneylender I’ve ever heard of.
Tweetable:
Save thousands of dollars on your #loans – for real! – with @CommonBond
Photo Credits:
CommonBond | Keith Cooper/Flickr
